TRADE ACCOUNTS RECEIVABLE AND TRADE RECEIVABLES SECURITIZATION PROGRAM (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Changes to the Allowance for Lifetime Expected Credit Losses Related to Trade Accounts Receivable

Changes to the allowance for lifetime expected credit losses related to Trade accounts receivable were as follows:


	Nine Months Ended September 30, 2023
Rollforward of the Allowance for Credit Losses (US$ in millions)	Short-term		Long-term (1)		Total
Allowance as of January 1, 2023	$	90	$	46	$	136
Current period provisions	55		—		55
Recoveries	(44)		(2)		(46)
Write-offs charged against the allowance	(2)		(12)		(14)
Foreign exchange translation differences	2		—		2
Allowance as of September 30, 2023	$	101	$	32	$	133

(1) Long-term portion of the allowance for credit losses is included in Other non-current assets.


	Nine Months Ended September 30, 2022
Rollforward of the Allowance for Credit Losses (US$ in millions)	Short-term		Long-term (1)		Total
Allowance as of January 1, 2022	$	85	$	47	$	132
Current period provisions	49		1		50
Recoveries	(27)		(1)		(28)
Write-offs charged against the allowance	(11)		(3)		(14)
Foreign exchange translation differences	(2)		1		(1)
Allowance as of September 30, 2022	$	94	$	45	$	139

(1) Long-term portion of the allowance for credit losses is included in Other non-current assets.

Schedule of Assets that Continue to be Recognized, Transferred Financial Assets and Other Financial Assets Managed Together


(US$ in millions)	September 30, 2023		December 31, 2022
Receivables sold that were derecognized from Bunge's balance sheet	$	1,100	$	1,100
Unsold receivables pledged to the administrative agent and included in Trade accounts receivable	$	343	$	583

The table below summarizes the cash flows and discounts of Bunge’s trade receivables associated with the Program. Servicing fees under the Program were not significant in any period.


	Nine Months Ended September 30,
(US$ in millions)	2023		2022
Gross receivables sold	$	10,231	$	13,182
Proceeds received in cash related to transfers of receivables (1)	$	10,186	$	12,455
Cash collections from customers on receivables previously sold	$	10,231	$	13,035
Discounts related to gross receivables sold included in Selling, general & administrative expenses	$	45	$	12

(1) Prior to November 16, 2022, the Company recognized these proceeds net of the DPP, consisting of a receivable from the Purchasers that entitled the Company to certain collections on the receivable. The Company recognized the collection of the DPP in net cash provided by investing activities in the condensed consolidated statements of cash flows. As a result of the November 16, 2022 amendment, Bunge reports collections on newly originated, unsold receivables held by BSBV as operating cash flows in the condensed consolidated statements of cash flows.